________Decisions Concern Day- To- Day Activities Such as Whether to Extend

question 26

Multiple Choice

________decisions concern day- to- day activities such as whether to extend credit to a customer.

• A) Operational
• B) Tactical
• C) Strategic
• D) People
• E) Managerial

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Definitions:

Real Defense

Legal defenses that can be used to invalidate a claim in a contract or to nullify the contract itself.

Holder In Due Course

A party that acquires a negotiable instrument in good faith and for value, and is thus protected from many defenses that could be raised against the original payee.

Consumer Credit Contract

A legal agreement between a borrower and a lender where the lender provides the borrower with credit for personal, family, or household purposes.

Misdirected Payment

Misdirected payment occurs when a payment is sent to an incorrect party or destination, either due to error or misunderstanding.